The key issue, as Gensler put it, is how the SEC continues to ensure that markets work for everyday investors when new technologies change the face of finance.
The wirehouse disputes the damages and asserts the case is not indicative of how other arbitration panels may rule on the investment products.
The development likely gives the plaintiffs more leverage for a settlement, as the class-action case has moved one step closer to a trial.
The overturned Trump regulation would have provided certainty to independent brokers and advisers, FSI said. But an advocacy group says DOL has the authority to go in a different direction.
The responses of other federal agencies concerned about developments in securities markets may conflict with the SEC's core missions.
Knight Nguyen Investments and its owner claimed to be experts in alternative investments.
Panelists testified that more must be done to help retirement savings, including emergency savings and student-debt management services. It might also mean passing legislation to discourage workers from prematurely cashing out their 401(k) balances.
The legislation advances to the House floor as the SEC is taking public comments on increasing ESG reporting requirements.
The broker, Matthew Clason, transferred more than $668,000 from the victim’s investment accounts into a joint bank account and then took most of it, according to the Department of Justice. He faces up to 20 years in prison.
The SEC chair deftly handled four hours of questioning from lawmakers, including a query about Reg BI. He showed he’s a deft politician who will be able to guide policy in a direction he favors.
The Securities and Exchange Commission says the firm knew that hackers were trying to access participant accounts but didn’t report them.
The exchange has proposed listing Fidelity's Wise Origin Bitcoin Trust, saying in its filing that concerns about potential manipulation of a Bitcoin ETF have been 'sufficiently mitigated.'
President Biden likely will need to keep all Democrats on board to get his spending and related tax proposals through Congress.
Finra will reopen 62 of its 69 hearing locations in July, while allowing arbitration parties to continue to request remote proceedings. Even if in-person proceedings are allowed, Finra said arbitration parties can still continue to request a remote hearing.
One industry group is now calling on Finra to end the remote hearings it says are harming investors. Two hundred and sixty-three hearings have been conducted remotely as of the end of March.
Tax planning has become an urgent topic following President Joe Biden's proposal aimed at high earners and wealthy investors.
An unscientific poll of readers found 61% disapproving of Biden and 60% opposing his proposed tax increases. The survey was released on April 29, Biden’s 100th day in office.
The heads of the Senate and House committees overseeing labor want to know whether TDFs are working as advertised.
Democratic bills address investor protection concerns related to the frenzy; Republicans warn against regulating ordinary investors out of the market.
While plaintiffs continue to develop many theories and new claims, one type of claim that has appeared with increasing frequency in 401(k) litigation 2.0 is an allegation that deciding to offer additional services to plans and their participants creates conflicts.
